Confident of meeting target growth — ERW is confident that revenues this year will reach its target growth of 15% as the business moves into high season in the second half. Profits grew strongly in 2Q13 after booking extraordinary gains on sale of assets to ERWPF fund. The company is also ready to expand both domestically and internationally. (Khao Hoon, 27/08/13)
Comment: This is a well managed hotel asset owning group, every analyst has similar target prices for it today
Jasmine to set up fund – Jasmine International is the latest Thai company to launch an infrastructure fund, underlining the increasing popularity of the innovative financing tool. Jasmine reported to the Stock Exchange of Thailand yesterday that its board approved a fund-raising plan via an infrastructure fund listing. The listing is expected to be between Bt50-70bn. Under the plan, Jasmine will sell 610,000 core kilometres of its broadband fibre-optic cable networks, 16,000 access nodes and other cables. (Bangkok Post, 27/08/13)
Comment: Infrastructure funds, property funds, reits, etc etc the investment landscape in Thailand has changed a fair bit in Thailand over the past few years.
Bidding for children’s channel — NINE plans to invest Bt30mn to bid for a children’s channel in the TV digital auction. It expects net profits this year to grow by 10% from last year’s 7.95% after cost management has improved. (Khao Hoon, 27/08/13)
Expects better third quarter — PYLON signals that business will continue to be better in 3Q13 and revenues for the year are to reach its target Bt1.2bn. It expects to book 70% of its total backlog of Bt1.2bn and to continue bidding for new projects. Most recently, the company won seven new jobs worth Bt132.93mn. (Khao Hoon, 27/08/13)
Ratch embraces new strategies – Ratchaburi Electricity Generating Holding under its new president will adjust its business strategies to boost growth, teaming up with others in the EGAT group and tapping the Myanmar market. (The Nation, 27/08/13)
Improving street signs — TSF is to modernize and improve its street signs. It expects all its 1,425 signs to be updated by October, after already changing 500. It believes the new and improved looks will help draw in new customers. (Khao Hoon, 27/08/13)